Is Insurance Recession Proof?
The Insurance Industry Is Recession-Proof Because People Need Insurance Whether the Economy Is up or Down, Said Randy Vandervaate, the President and Owner of...
The insurance industry is recession-proof because people need insurance whether the economy is up or down, said Randy VanderVaate, the president and owner of Funeral Funds.
What industries are recession proof?
- Consumer Staples.
- Grocery Stores/Discount Retail.
- Alcoholic Beverages.
- Cosmetics.
- Death and Funeral Services.
How do insurance companies do in a recession?
During periods of recession, insurance companies may experience a drop in premium collections due to consumers cutting back on or downsizing their coverages, such as home or auto. Additionally, life insurance may not be seen as a necessity by many consumers in bad economic times.
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